Job cuts have been a reoccurring theme over the last few years, but if you know where to look there are plenty of companies that are still hiring. Of course, the COVID-19 pandemic precipitated a deep recession in certain sectors, particularly those related to services. But after countries got a handle of the pandemic another problem arose, inflation. In the United States, inflation reached above 9% in the summer of 2022, forcing the U.S. Federal Reserve to raise interest rates 11 times. An elevated federal funds rate has created macroeconomic uncertainty worldwide. And businesses, who need to operate amidst uncertain times and slowing growth, have resorted to thousands of job cuts. The technology sector has been severely hit with even tech giants including Google (NASDAQ:GOOGL, NASDAQ:GOOG), Meta (NASDAQ:META) and Amazon (NASDAQ:AMZN) cutting thousands of jobs since 2022.
Still, there are a number of companies that are still hiring. They have increased top-line growth and profitability despite the macroeconomic turmoil and have not initiated massive layoffs. Below are just some of those companies.
Nvidia (NVDA)
Nvidia’s (NASDAQ:NVDA) place on this list should be no surprise. The chipmaker’s shares continue to make shareholders juicy returns. In particular, Nvidia’s share returned a staggering gain of 240% last year, and Nvidia’s Q4 earnings report beat Wall Street’s expectations. Currently, the shares of NVDA stock have risen more than 72% on a year-to-date basis.
The acclaimed chipmaker’s rise is related to its dominance in designing chips for training large-language models for artificial intelligence. Nvidia’s H100 chip is in high-demand worldwide, and that means the chipmaker will likely need a stable workforce to meet that demand.
In their Q4 earnings report, Nvidia revenues came in at 22.1 billion, up 22% sequentially and 265% on a year-over-year basis. Revenue for the full year increased 126% YOY. GAAP earnings per share also rose an astronomic 586% to $11.93. This all means, quite simply, the company is generating more net income than it has ever generated, and job cuts don’t look to be anywhere in sight.
Manhattan Associates (MANH)
Manhattan Associates (NASDAQ:MANH), a leading provider of software solutions for supply chain management, inventory optimization and omnichannel commerce, has defied many odds. The company rose into prominence in the midst of the COVID-19 pandemic when having an efficient supply chain became crucial.
Supply chain solutions have continued to be in demand, despite the pandemic being over. As a result, Manhattan Associates had a strong end to 2023. The company beat Wall Street’s revenue estimates, and revenue for the full year rose 22% to $929 million. Manhattan Associates’ management team also provided rosy guidance for 2024. Supply chain solutions will continue to be in demand, especially as two critical canals, the Panama Canal and the Suez Canal, have suffered blockages.
The company hasn’t announced any big job cuts. And based on their LinkedIn page, MANH is one of the companies that is still hiring aplenty.
CrowdStrike (CRWD)
CrowdStrike (NASDAQ:CRWD) is a cybersecurity firm that specializes in cloud-based endpoint protection and threat intelligence services. The company’s Q4 earnings underscored how a cybersecurity firm could grow even during economic uncertainty. In particular, CrowdStrike beat earnings Wall Street estimates and saw top-line growth in 2023, reaching 54% on a year-over-year basis, while revenue for the quarter increased 45% year-over-year. Despite the cybersecurity industry as a whole struggling with growth, CrowdStrike has continued to significantly improve top-line figures year-over-year. The company has also avoided job cuts unlike companies like Zscaler (NASDAQ:ZS) and SentinelOne (NYSE:S).
CrowdStrike’s shares have climbed more than 140% by the end of 2023. In 2024, the cybersecurity firm’s share price has risen more than 22%. As enterprises continue to pursue digital transformation plans, CrowdStrike will definitely be a beneficiary.
On the date of publication, Tyrik Torres did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
